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Steve Wallace Recorded Video Seminars

Steve Wallace Recorded Video Seminars

The Wallace Law Group, PL is proud to announce the availability of past video seminars on The Wallace Law Group, PL You Tube Channel.

Past Seminars include:

Legal Pitfalls of Distressed Real Estate Transactions

Fundamentals of Real Estate Syndication

Understanding the Commercial Real Estate Contract

Evictions During a Pandemic: Understand Your Rights

Top 10 Fundamentals of Real Estate Investment

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Steven Wallace, EsqSteve Wallace Recorded Video Seminars
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Florida Unemployment Claims Exceeds 1 Million

Florida Unemployment Claims Exceeds 1 Million

As a result of the COVID-19 pandemic and Florida’s Safer at Home Order, according to the Florida Department of Economic Opportunity, the state has received 1,025,657 unique unemployment claims and has so far paid 452,526.  The Miami Herald Article going into further detail.

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Steven Wallace, EsqFlorida Unemployment Claims Exceeds 1 Million
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SBA is Taking PPP Loan Applications Today

SBA is Taking PPP Loan Applications Today

This blog entry will update small businesses about the loan programs available under the CARES Act.  This blog updates my prior article COVID-19 Financing Options Simplified written on April 1, 2020, our April 6, 2020 blog post, our April 14, 2020 blog post and our April 22, 2020 blog post.

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Steven Wallace, EsqSBA is Taking PPP Loan Applications Today
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Top 5 Tips for Business Survival in Any Type of Economy

Top 5 Tips for Business Survival in Any Type of Economy

Having survived the Dot Com Crash and the Great Recession I will provide my insight how you can have your small business survive any economic cycle. This blog entry will outline my 5 Tips for Business Survival in any type of economy.

Tip 1-Become Recession Proof

The key for a business to survive in any economy is the ability for management to predict and/or adapt to changing economic conditions.  Many of us learned the “hard way”  during the Great Recession.  The Wallace Law Group, PL was founded in 2009 in the midst of the Great Recession.  Up until 2009, my law practice comprised Real Estate Law and Corporate Law clients.  However, many of my clients were facing financial hardship whether it was facing foreclosure on their homes, the lost of their jobs or both.  At that point, the scope of my practice changed to representing clients in Bankruptcy matters.  The key point is a business owner must always have skills or products available to serve your customers’ changing needs and wants.

Tip 2-Always Run a Lean Operation

Often when business seek my advice concerning financial difficulty, my first question is let me look at your expenses.  Upon first glance of the budget, I am able to highlight numerous unnecessary business expenses.  It may be an unfavorable commercial lease or bloated payroll.

Tip 3-Cashflow, Cashflow, Cashflow

During difficult financial times, the businesses that survive have mastered the art of maintaining consistent cashflow.  This can be accomplished by being as disciplined in your business budget as you are with your personal budget.  Prior to starting The Wallace Law Group, PL, I always worked at large law firms and I would marvel at largesse these firms would employ.  Obviously to woo and maintain its client base, a certain image was needed but the first adjustment was layoffs and salary reduction not trimming the largesse.

Tip 4-Revaluate Your Staff

As a small business owner I always try to maintain a consistency in my staff.  The most difficult task as a compassionate business owner is the decision to terminate a member of my staff.  However, during times of financial difficulty it is a time to reevaluate each member of your staff.  You should ask yourself whether each staff member is necessary to maintain your operation and such staff member is performing to your expectations.

Tip 5-Reinvent Your Business

Americans pride themselves on innovation and resilience during times of need.  Use these difficult times to create new products, new recipes or new services.  During this pandemic I am learning a new language, working on an E-Book and learning web design and coding.

For any questions about your small business, please contact the experienced business attorneys at The Wallace Law Group with a convenient office location in Boynton Beach representing clients in Boynton Beach, Delray Beach, Boca Raton, West Palm Beach, Greenacres, Wellington, Fort Lauderdale, Coral Springs, Deerfield Beach, Parkland, Hollywood, Weston, Aventura, Miami, Miami Beach.

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Steven Wallace, EsqTop 5 Tips for Business Survival in Any Type of Economy
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